Brantford Real Estate and Community News

Here is your Brantford Real Estate Market Report for August 2017. This month we are going to focus on the detached single family homes in the West Brant and North End neighbourhoods, as well as for the City of Brantford as a whole. The other areas simply didn't have enough sales in August to be able to give us a true representation of the data in those areas.

West Brant

The average sale price in the West Brant area in August 2017 was $459,088, which is up 10.15% or $42,303 higher than August 2016. There were 34 new listings and 32 detached homes that sold in the month of August 2017, which gives us a sales-to-new listings ratio of 94.12% in August. That means that almost 9.5 out of every 10 homes that were listed in the month of August were sold, indicating that we experienced a very strong Seller's market in the West Brant neighbourhood in the month of August.

North End

The average sale price in the North End neighbourhoods in August 2017 was $417,669, which is up 12.68% or $47,010 higher than August 2016. There were 38 new listings and 29 detached homes that sold in the month of August 2017, which gives us a sales-to-new listings ratio of 76.32% in August. That means that approximately 7.5 out of every 10 homes that were listed in the month of August were sold, indicating that it was a strong Seller's market in the North End areas in the month of August.

Brantford

The average sale price for all areas of Brantford in August 2017 was $378,148, which is up 8.02% or $28,074 higher than August 2016. There were 139 new listings and 130 detached homes that sold in the month of August 2017, which gives us a sales-to-new listings ratio of 93.53% in ...

How was the Brantford Real Estate Market in 2016?

The Brantford real estate market was a strong Sellers market in 2016 with a low inventory of homes and an increased demand for the homes for sale in Brantford. When a home is priced correctly and marketed properly in this market the result is a situation of multiple offers creating a bidding war for the property and more money for the Seller.

Brantford Real Estate Market: 2016 vs. 2015

1)Residential Sales Volume was up 3.95% in 2016 vs. 2015, even though there were 2.50% fewer listings in 2016.

2)The Median Sale Price was $305,450 in 2016 vs. $267,000 in 2015, which was an increase of 14.40%.

3)The Average Sale Price was $335,331 in 2016 vs. $293,051 in 2015, which was an increase of 14.43%.

4)The Average Sale Price for a single family detached home was $365,192 in 2016 vs. $313,495 in 2015, which was an increase of 16.49%.

5)In 2016, 24.47% of the residential sales were for homes priced above $400,000, whereas in 2015 only 15.53% of the residential sales were for homes priced above $400,000.

Unfortunately I do not have a crystal ball to tell the future(nobody does...Lol), but based on the market data and my experience in the Brantford real estate market I anticipate the average sale price for a single family detached home in Brantford to approach the $400,000 price before the end of this year.

Outlook for the Brantford Real Estate Market in 2017

The outlook for the real estate market in Brantford and Brant County for 2017 remains strong with low interest rates, a high demand for homes in Brantford from both local and out-of-town buyers, and a positive outlook with Brantford being identified as an urban growth centre where future population growth is expected to occur in the next 30 years. In order to accommodate this projected growth, the City of Brantford will require additional housing for existing and new residents to live, thus further intensifying the demand for the homes for sale in Brantford.

With the demand for homes in Brantford remaining strong and continuing to outpace the supply of homes available on the market we can expect for the sale prices in all neighbourhoods to set all-time highs in 2017.